How can NetSuite help your organization in different ways?
NetSuite is a cloud-based software that allows organizations to run business processes in a single system. This online service does include some upfront license fees, and it can include complex implementation services.The normal software maintenance fees are included in the ongoing license and related fees.
Organizations utilize NetSuite for ERP, which stands for Enterprise Resource Planning and is a system used by organizations to process and monitor their tasks, transactions, etc in their specific industry. When an organization expands, other systems may not be adequate to allow for growth and further optimization.
However, at a certain point, an organization cannot grow more than the capability of these tools. An ERP web platform helps to resolve this problem.
One of the main keys of every organization is the financials and at the heart of NetSuite is the general ledger and a robust accounting system.
Depending on the industry, there are many different functions that can be performed in NetSuite, which are integrated into the general ledger. For example, in the distribution business, one of the prime features is warehouse management. And while warehouse management in itself is important it entails being connected to accounting and other functions.
SO WHAT DO YOU GET?
NetSuite allows the tracking of financials and managing Sales to Cash and Purchasing to Payment, including other processes. It permits the hosting of E-commerce stores, shopping carts, and order-taking. It also includes a customer relationship management (CRM) structure.
Since it’s one system, all team members with access can review and work on specific records (customers, vendors, etc) or transactions, based on their job description. For example, organizations can have their salespeople enter quotes as well as drive opportunities and other activities through the sales funnel.
This versatile system includes a range of business tools. All these platforms play together in one encompassing cloud application, NetSuite being one of the top systems in this category
Here's how it can help you in different ways:
Enterprise Resource Planning (ERP) - NetSuite ERP collates every core financial business process in the cloud: accounting, inventory, order management, supply chain, and many other areas.
Many core processes are found in organizations on a daily basis. To name a few: there are cash collection, expense approvals, financial consolidations, fulfillment, and invoicing. Computerizing and optimizing such tasks will lessen the efforts and improve the accuracy of these tasks.
Customer relationship management (CRM) - NetSuite offers an on-demand CRM setup that offers a 360-degree view of customers.
It is crucial to have real-time visibility to make sound decisions. Because of this, information needs to be accessed anytime and from anywhere. NetSuite has many processes and reporting to help save significant time and resources, which ensures the data is as accurate as possible.
E-commerce - includes functionality found in web stores from order management and point of sale to financials, inventory, marketing, merchandising, and support.
Additional sales channels can be added quickly because of the combined accounting and data processes and order management. For better efficiency, it also assists businesses in cross-selling and upselling to the existing customers because of improved visibility.
Manufacturing - NetSuite's manufacturing functionality focuses on providing products and supplying services while acquiring agility for significant growth.
It allows for quicker and more accurate performance. Users can then focus their expertise in tailoring processes to execute their tasks efficiently and effectively. The Information Technology (IT) department can then help with planning initiatives such as creating new value-added functionality.
One database, one system - It's a consolidated and online worldwide organization management platform that processes transactions involving multiple subsidiaries (branches), countries, currencies, and languages.
Therefore, the IT department no longer needs to buy, install and manage lots of systems as many of those can be either absorbed by NetSuite or integrated into NetSuite in more of a best of breed fashion. Operations should be optimized which can free up human resources to look for more ways to the effectiveness of the organization.
Professional services automation (PSA) - NetSuite PSA assists in planning, tracking, and executing activities and assignments.
As a Software-as-a-Service (SaaS) solution, NetSuite’s customization features and tools help organizations meet their specific industry standards, which allows for modifying practices and processes to reach organization requirements. Modifications can be made that flow through future NetSuite version releases, which can continue to encourage customization, creating what could be a one-of-a-kind application for the organization.
Many organizations are looking to the cloud for their specific system needs, to reduce their operating costs and build up their competitive advantage.
Want to know how you can optimize NetSuite for your organization? Book your initial web meeting with us for FREE here at Baac Office and we can l explore ways to see if we can add value to your organization.